Sirius Gets Stern

Sirius Gets Stern
October 6, 2004 -- New York – Howard Stern and Sirius announced an agreement whereby Stern will move to Sirius beginning January 1, 2006.

Stern is credited with revolutionizing talk radio. He is the No. 1 national radio host among males 18-49 years of age and ranks No. 1 in many of the 46 major markets where his show is broadcast, including New York and Los Angeles.

“It has been my dream to have the top-rated show in radio since I was five years old,” said Stern. “Sirius – the future of radio – will take this dream to a whole new level as I bring my fans my show my way. It will be the best radio they will ever hear.”

Stern has written two best-selling books: Private Parts and Miss America. He later starred in the motion picture adaptation of Private Parts and in E! Entertainment Television's “The Howard Stern Show.”

“Signing Howard Stern is, without a doubt, the most exciting and transformational event in the history of radio,” said Joseph P. Clayton, CEO of Sirius. “He is an entertainment force of unprecedented recognition and popularity in the broadcast world, who is capable of changing the face of satellite radio and generating huge numbers of subscribers for Sirius.”

Sirius' President of Entertainment and Sports Scott Greenstein negotiated the five-year, multi-million dollar agreement with Don Buchwald, who represents Stern.

Buchwald said: “An important new industry is being developed and Howard wants to be its leader. He is truly excited to be working with Sirius, which will not only provide a new and innovative platform for his broadcast talents, but will draw on his skills as a businessman. Sirius has offered Howard and his fans a great opportunity to be a part of something truly remarkable, and we look forward to a spectacular future.”

Through Sirius' nationwide broadcast system, Stern will be heard in every market across the country.

Sirius estimates that Stern would need to generate approximately one million subscribers to cover the costs of the deal. Total production and operating costs for the Stern show, including compensation of the show cast and staff, overhead, construction costs for a dedicated studio, and a budget for the development of additional programming and marketing concepts, is estimated to be approximately $100 million per year.